TotalBank has led our rankings of the best 3-month CD rates for four months now, even though its returns have been steadily declining.
The bank, which has 16 branches in the Miami area, was paying 2.55% APY when it claimed the top spot in June and 1.85% APY as recently as last month.
Now it’s offering 1.65% APY with a minimum deposit of $1,000, but that’s still good enough to lead our October rankings.
During that time, the national average for a 3-month certificate of deposit has fallen from 0.64% to 0.41%. That’s the lowest average since the survey we use began tracking 3-month CD rates in March 1989.
The other top nationally available CD rates are:
1.50% APY with a $25,000 minimum deposit from MetLife Bank, an online bank owned by the insurance giant featuring Snoopy in its ads.
1.50% APY from H&R Block Bank, the online bank owned by the income tax people, with a $5,000 minimum deposit. This offer expires on Nov. 9.
Click here to compare these rates with the best CD rates from dozens of other banks in our extensive database.
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